Welcome to our dedicated page for Avista news (Ticker: AVA), a resource for investors and traders seeking the latest updates and insights on Avista stock.
Avista Corporation reports recurring developments for a regulated energy company that produces, transmits and distributes electricity and distributes natural gas. Its Avista Utilities division serves eastern Washington, northern Idaho and parts of southern and eastern Oregon, while Alaska Energy and Resources Company provides retail electric service in Juneau, Alaska through Alaska Electric Light and Power Company.
Company news commonly covers utility earnings and guidance, board actions on common stock dividends, state rate filings, clean energy implementation plans, integrated resource planning, resource solicitations and demand-response or capacity additions. Updates also address regulatory proceedings before utility commissions and capital investment plans tied to reliability, resource adequacy and customer energy needs.
Avista Corp. (NYSE: AVA) has declared a quarterly dividend of $0.4225 per share on common stock, payable on Sept. 15, 2021, to shareholders recorded by Aug. 19, 2021. The board reviews dividends regularly considering financial results, business strategies, and market conditions. Avista is involved in energy production, transmission, and distribution, serving 402,000 electric and 369,000 natural gas customers across eastern Washington, northern Idaho, and parts of Oregon, alongside operations in Juneau, Alaska.
Avista Corp. reported a net income of $14.1 million for Q2 2021, or $0.20 per diluted share, down from $17.5 million or $0.26 in Q2 2020. Year-to-date, net income rose to $82.1 million from $65.9 million. The decline in Q2 earnings was attributed to increased power supply costs and lower hydroelectric generation amid extreme heat. The company confirmed its 2021 earnings guidance of $1.96 to $2.16 per diluted share, but lowered the 2022 guidance by $0.15 per diluted share due to rising costs and regulatory lag.
Avista's Transportation Electrification Plan (TE Plan) has received approval from the Washington Utilities and Transportation Commission. This plan focuses on building charging infrastructure for electric vehicles, which includes incentives for charging equipment and support for low-income communities. Programs aim to reduce transportation costs and CO2 emissions while optimizing electric load growth. Customers can fuel EVs using Avista's clean electricity for under $1 per gallon equivalent, significantly lowering emissions by 80%. Various resources and applications are available on Avista's website.
Avista Corp. (NYSE: AVA) will host its quarterly conference call on August 4, 2021, at 10:30 a.m. EDT to discuss second quarter 2021 results. A news release detailing the earnings will be issued at 7:05 a.m. EDT on the same day. Investors can access the call via Avista's website or by dialing (855) 806-8606 with confirmation number 4621859. A replay will be available until August 11, 2021, at (855) 859-2056. Avista provides essential energy services to over 767,000 customers across its service area.
Avista (NYSE: AVA) has submitted a settlement agreement to the Idaho Public Utilities Commission, proposing adjustments to electric and gas rates over two years. If approved, electric revenues would increase by $10.6 million (4.3%) in 2021 and $8 million (3.1%) in 2022, while natural gas revenues would decrease by $1.6 million (3.7%) in 2021 and increase by $0.9 million (2.2%) in 2022. The settlement also includes customer tax credits to offset these changes. A residential electric customer would see a minimal increase of $0.49 in 2021 and $0.31 in 2022, while natural gas customers may experience a decrease of $2.30 followed by a slight increase.
On May 11, 2021, Avista Corp. (NYSE: AVA) announced a quarterly dividend of $0.4225 per share on its common stock. This dividend is payable on June 15, 2021, to shareholders of record by the close of business on May 27, 2021. The board of directors will continue to evaluate dividend levels based on various factors, including financial results and economic conditions, demonstrating Avista's commitment to returning value to its shareholders.
Avista Corp. (NYSE: AVA) reported a net income of $68.0 million, or $0.98 per diluted share for Q1 2021, a significant increase from $48.4 million or $0.72 per diluted share in Q1 2020. The rise was attributed to higher utility margins and lower net power supply costs. The company confirmed its earnings guidance for 2021, with projections ranging from $1.96 to $2.16 per diluted share. Additionally, Avista has set goals for carbon neutrality by 2045 and aims for a 30% reduction in greenhouse gas emissions by 2030.
Avista Corporation has filed a lawsuit against the State of Montana, challenging newly enacted Senate Bills 265 and 266. The company, along with other owners of the Colstrip power plant, believes these statutes undermine a longstanding contract regarding ownership and operations. Avista argues that the bills are unlawful and unconstitutional, prompting legal action to protect customer and shareholder rights. Additionally, Avista remains committed to finding solutions for the Colstrip community and has donated $3 million to support its transition.
Avista Corporation, together with other owners of the Pacific Northwest Colstrip plant, has filed a lawsuit against the State of Montana following the signing of Senate Bills 265 and 266. Avista argues these bills disrupt a nearly 40-year contract among the Colstrip owners. The lawsuit primarily targets Senate Bill 265, claiming it undermines the existing arbitration provisions of the Colstrip Ownership and Operating Agreement. Avista has expressed disappointment in the state's actions but remains committed to finding solutions that serve all stakeholders involved.
Avista (NYSE: AVA) aims to cut greenhouse gas emissions by 30% by 2030 and achieve carbon neutrality by 2045. The company builds on its 2019 goal of providing 100% clean electricity by 2045 and is now expanding these efforts to natural gas. Avista plans to invest in renewable natural gas (RNG), hydrogen, and energy efficiency measures to reach its targets. With over 367,000 natural gas customers, Avista is committed to balancing environmental stewardship with affordability while promoting clean energy.